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March 11, 2023
A quick look at yesterday: the US industrial tech company hovered around the $25.65 level after closing Thursday at $26.6 and shedding 3.57%, as it reached reached yesterday's session close.
United States Unemployment Rate fell short of the 3.4 projections, with new data of 3.6.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States Non Farm Payrolls beat the 205,000 projections, with 311,000.
Amid the market gloom, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.
Vontier Corporation made an initial break below its 21 day Simple Moving Average at $25.54, a possible indication of a forthcoming negative trend. Vontier's upper Bollinger Band® is at $28.15 which indicates a further downward move may follow. In contrast, Vontier could begin to recover as it approaches significant support, now 42 cents away from $25.23. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Vontier to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the US industrial tech company is expected to attract significant bearish sentiment in the coming days.
Vontier was not the only decliner in the technology sector; Accenture plc Class A (Ireland) went down 2.62%, closed at $259.76. Oracle went down to $84.07, losing 3.22% after it closed at $86.87 yesterday. Intuit lost 2.96% yesterday and closed at $392.61.
Trading mostly sideways for 1 year, 5 months. The North Carolina manufacturing company has gained 29.25% since its lowest print of $16.71 earlier this year.
